Symbolic imageMoore Threads plans Hong Kong listing as China steers capital into AI
Chinese AI chip developer Moore Threads said on Sunday it will seek a Hong Kong listing after first-half revenue rose 147 per cent. It is the latest sign of Chinese capital flowing into artificial intelligence and robotics.
The Shanghai-listed company said on Sunday, 9 August, that its board had approved an issue of H shares on the main board of the Hong Kong stock exchange, a step meant to deepen its 'international strategic footprint', the South China Morning Post reported. Revenue for the six months to June reached 1.7 billion yuan (US$252 million), and the net loss narrowed to 11.6 million yuan from 271 million a year earlier. Moore Threads, marketed as a domestic alternative to Nvidia, said talks were still under way and details not finalised. It would join a run of Chinese technology debuts in Hong Kong this year.
Unitree IPO draws a capital rush
Global Times reports that Unitree Robotics' stock market debut set off an investor frenzy, fuelled by policy support, and ties the sector's future value to continued commercialisation.
Beijing points $28 trillion at the AI race
Bloomberg, in a report available only as a summary, says China is unleashing its $28 trillion capital markets to challenge the United States in AI.
Other opinions
Nikkei Asia frames the same push as a 'national team' of state investors battling an AI stock rollercoaster, while Global Times presents the first half as an improving market structure driven by AI and robots.